Nationwide banks were among the largest lenders to “The Volunteer State” businesses through the U.S. Small Business Administration’s 7(a) program. Whether your business is a hotel, restaurant, auto repair, medical practice, veterinary or pharmacy, your mission is to exceed your customer expectations. So, if you’re ready to step up your business to the next level, here are the top 10 SBA Lenders in Tennessee:
| State Rank | Bank | Headquarters | # Loans | Avg Loan | Avg Int |
|---|---|---|---|---|---|
| 1 | U.S. Bank | Cincinnati, OH | 69 | $170,584 | 7.8% |
| 2 | Celtic Bank | Salt Lake City, UT | 33 | $190,885 | 6.8% |
| 3 | Live Oak | Wilmington, NC | 30 | $1,124,153 | 6.5% |
| 4 | First Home Bank | Seminole, FL | 25 | $227,800 | 6.8% |
| 5 | Independence Bank | East Greenwich, RI | 25 | $105,600 | 7.5% |
| 6 | Pinnacle Bank | Nashville, TN | 22 | $835,177 | 6.6% |
| 7 | Regions Bank | Birmingham, AL | 16 | $746,256 | 6.9% |
| 8 | Wells Fargo | Sioux Falls, SD | 16 | $431,819 | 7.9% |
| 9 | Byline Bank | Chicago, IL | 13 | $1,605,077 | 6.8% |
| 10 | First Tennessee Bank | Memphis, TN | 13 | $1,419,185 | 6.0% |
| 11 | Citizens Bank | Elizabethton, TN | 12 | $452,500 | 6.5% |
| 12 | Newtek Small Business | Lake Success, NY | 11 | $714,727 | 6.9% |
| 13 | SunTrust Bank | Atlanta, GA | 11 | $511,791 | 5.9% |
| 14 | Synovus Bank | Columbus, GA | 11 | $1,440,373 | 5.9% |
| 15 | Stearns Bank | Saint Cloud, MN | 10 | $296,330 | 6.9% |
| 16 | United Midwest Savings Bank | De Graff, OH | 10 | $150,100 | 6.9% |
| 17 | Brightbridge, Inc. | Chattanooga, TN | 9 | $136,644 | 7.6% |
| 18 | Simmons Bank | Pine Bluff, AR | 9 | $654,833 | 6.1% |
| 19 | BancorpSouth Bank | Tupelo, MS | 8 | $119,363 | 5.4% |
| 20 | Carver State Bank | Savannah, GA | 8 | $126,938 | 6.9% |